Smart money says yuan as reserve currency is Yam's pipe dream.

(From South China Morning Post)

"There is also the possibility that {hellip} the renminbi will in time emerge as the anchor currency of the region."

Joseph Yam Chi-kwong

Chief executive

Hong Kong Monetary Authority

BIG THINKER AND this was not even the biggest of Mr Yam's thoughts in his latest weekly column on the HKMA's website. His grander dream was that the yuan could eventually replace the US dollar as the world's reserve currency. Happily, he was realistic enough to add the words "this, of course, is a big 'if'."

For a more exact touch of realism, did you know that the mainland does not even report its trade figures in its own currency? Except for a brief annual summary, you …